A Favorable Cost Variance Occurs When

question 150

Multiple Choice

A favorable cost variance occurs when

• A) Actual costs are more than standard costs.
• B) Standard costs are more than actual costs.
• C) Standard costs are less than actual costs.
• D) None of the above.

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Definitions:

Wasted Motions

Unnecessary or inefficient movements by workers during the production process, often leading to increased time and reduced productivity.

Micro-motions

Small, repetitive motion elements into which a task can be broken down in motion study, aimed at improving efficiency and minimizing waste.

Dynamic Social System

A complex system characterized by interactions among individuals, groups, or institutions, which evolves over time.

Work Schedule

A timetable for when employees are expected to start and finish their work, often including breaks, work hours, and shift patterns.